YouTube has been trying to get over its low resolution piano-playing cats for quite a while, and now we’ve learned of a couple new strides the Google-owned network has done to better preserve its hold of the market.
According to some rumors picked up by Time, sources say Google is looking to pay around $4,000 per minute for content presented on YouTube’s celebrity channels, with overall deals totaling between $2 million and $5 million.
“It’s been something they’ve been able to do with smaller content producers, offering funding and coupons for filmmakers to purchase equipment, but can the same paradigm really work with Hollywood professionals?”
Google claims all conversations have been “exploratory in nature,” but it’s obvious the internet giant is eager to invest in quality content for YouTube – on more than one level. ReadWriteWeb reports YouTube has acquired Green Parrot Pictures for an undisclosed amount. The video quality improvement technology the Ireland-based company develops have been used in productions including Lord of the Rings, X-Men and Spider-Man, and helps improve video quality while using less bandwidth. The technology also reportedly improves playback speed, and represents a milestone in YouTube’s transit to higher quality video.
YouTube is the largest online video network in the world, but it still has to work hard to stay relevant. With start-ups like Are You Watching This?, who attended SxSW to spur on their online video magic, some of the biggest players are rapidly expanding their turf. Netflix is one of the most recognized names in this list, and according to research firm The NPD Group, Netflix’s share of streamed or downloaded digital movies stood at 61 percent between January and February 2011. Netflix had yet another major update today – Goldman Sachs raised its rating of Netflix from neutral to buy with a $300 price target.
With online video trends on the uptick, Amazon, Apple and Hulu are also looking to extend their reach, and their ad dollars. The mobile realm has advanced video channels at an alarming rate, and it’s all Google can do to keep its dominance in a market shifting towards personalized, and more importantly, quality content.